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home > media center > recent events > recent events – 2002 archives |
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 Private Equity 12.10.02 | On December 10, Seagate Technology (NYSE:STX) offered 72.5 million shares to the public at a price of $12 per share. Seagate Technology designs, manufactures and distributes rigid disc drives for enterprise, personal computer and consumer electronics applications. Seagate's hard drive business was acquired by a group of investors led by Silver Lake Partners, a Fort Washington fund investment, in a March 2000 transaction. 10.25.02 | Tri-State Ventures announces an initial closing of $20 million by four founding limited partners in its Tri-State Growth Capital Fund I, L.P. (Tri-State): The Procter & Gamble Company and affiliates of Convergys Corporation, Fifth Third Bank and The Western and Southern Life Insurance Company. A fund of funds targeted at raising $25-50 million, Tri-State will invest in venture capital funds that can leverage the considerable information technology, life sciences and advanced manufacturing assets in the Tri-State region that includes Cincinnati and parts of Kentucky, Indiana and Ohio. 09.20.02 | In July, Symantec Corp. (NASDAQ:SYMC) announced the acquisition of Riptech for $145 million and Security Focus for $75 million, both underlying companies in Fort Washington’s Fund II. Riptech was an investment of Providence Growth Investors and Columbia Capital II. Security Focus was a portfolio company of Mobius VI. 09.19.02 | In September, Sun Microsystems announced the acquisition of Pirus Networks, a JAFCO III portfolio company. Pirus is an early-stage company and provides significant strategic benefits for Sun's storage technology strategies. The deal is an all-stock deal that closed in early December. 09.05.02 | Cincinnati addresses image and future; public/private efforts could be a model for regional economies everywhere. 09.02.02 | The investment marks a major step in the Tri-State's efforts to provide more early-stage funding for local firms. It's the first time money from the newly formed Tri-State Growth Capital Fund has made its way to a local company. 07.31.02 | In July, Fort Washington and Catterton Partners, a leading private equity firm in the consumer market space, hosted a forum on emerging consumer trends with executives and faculty from leading Midwest Fortune 500 companies and universities. 05.31.02 | Fresh Enterprises, the operator of the Baja Fresh restaurant chain and a Catterton portfolio company, was acquired for $275 million in cash by Wendy’s International. The transaction closed in late June. 05.24.02 | On May 24, Fort Washington hosted general partners from Frontenac (Chicago) and JAFCO Ventures (Boston/Palo Alto), both leading technology venture firms, for a technology roundtable discussion. The discussion addressed leading issues in information technology for large institutions and included senior representatives from Ashland, Ohio State University, Procter & Gamble and Western-Southern Life. 05.23.02 | Netflix.com (NASDAQ:NFLX), an online portal for information on movies, raised $82 million in its initial public offering on May 23. The stock opened at $15.00 per share and traded at over $16.00 per share in early July. The company generates more than $75 million in annual revenue, is cash flow positive and was a substantial investment by Technology Crossover Ventures, a partnership investment in Fort Washington’s Fund II. 05.10.02 | Tri-State Growth Capital Fund I, L.P., announced today its commitment to two regional venture capital funds that invest in early-stage companies. Tri-State committed to Chrysalis Ventures II, L.P. of Louisville, Kentucky, which invests in early-stage health and business services companies, and Athenian Venture Partners II, L.P., of Athens, Ohio, which invests in early stage information technology and life sciences/biotech companies. Including its recently announced commitment to Cincinnati-based Senmed Medical Ventures I, L.P., the Tri-State Fund has made three commitments to regional venture funds. 04.09.02 | On April 9, Fort Washington and Chrysalis Ventures sponsored a biotechnology venture forum at the University of Louisville to identify leading trends in biotechnology. Ten venture funds, including Oxford Bioscience Partners, a Fort Washington Fund III investment, participated. 03.22.02 | Tri-State Growth Capital Fund I, L.P., announced March 20 its commitment to two leading venture capital funds that focus on early-stage life sciences companies. |
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